Closing greater than 80% of shops, PNJ’s income dropped to a document low, reporting a lack of 32 billion dong in July

In line with data from Phu Nhuan Jewellery Joint Inventory Firm (PNJ), by the tip of July, PNJ needed to quickly shut 274 shops out of a complete of 337 shops within the system. The reason being as a result of sophisticated state of affairs of the Covid-19 epidemic, inflicting many provinces and cities throughout the nation to implement social distancing.

Closing greater than 80% of shops made PNJ solely obtain web income of VND 489 billion in July, down 63% in comparison with the identical interval final yr and a loss after tax of VND 32 billion.

As noticed, that is PNJ’s fifth consecutive month of decline in income, since peaking in February 2021, and the bottom income month for the reason that firm introduced its annual earnings report. month, decrease than in April 2020 when the entire nation applied social distancing.

As for revenue, that is the second time PNJ has reported a month-to-month loss. The earlier time was additionally in April 2020 when many shops needed to shut to make sure illness prevention.

Closing more than 80% of stores, PNJ's revenue dropped to a record low, reporting a loss of 32 billion dong in July - Photo 1.

After 7 months, PNJ achieved web income of 12,126 billion dong, rising by 34% and finishing 58% of the plan, revenue after tax of 704 billion dong, rising by 42% and finishing 57% of the plan.

Closing more than 80% of stores, PNJ's revenue dropped to a record low, reporting a loss of 32 billion dong in July - Photo 2.

Within the income construction of PNJ, the retail section grew by 32.4%, the wholesale section grew by 13.8% and the gold bar income grew by 50% over the identical interval final yr.

Because the starting of the yr, PNJ has opened 13 new PNJ Gold shops, 15 PNJ Silver shops, 1 CAO retailer. PNJ nonetheless maintains a web-based supply system and operates shops that aren’t affected by social distancing insurance policies from some localities exterior of Ho Chi Minh Metropolis.

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